Google's parent company might invest $1 billion in Lyft, report says

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Alphabet has discussed a potential investment with Lyft over recent weeks, showing strong support for Uber's biggest competitor in the United States, according to a Bloomberg report.

The word is that the investment in Lyft is being driven by top-level executives, including Alphabet's Larry Page. Previously, Google had invested a whopping $258 million in Uber via Google Ventures and now the company is suing Uber for, allegedly, stealing trade secrets from Google's self-driving auto company, Waymo.

Sources told Bloomberg the investment would either come from Google or CapitalG, Alphabet's private equity arm.

Amid Uber's struggles, several investment funds already have marked down their shares in the company by as much as 15 percent - bad news as the startup gears up for an eventual IPO. As the relationship has deteriorated, Waymo signed a partnership with Lyft to work together on testing autonomous vehicles.

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Before the falling out, Alphabet's venture capital arm, GV, was an investor in Uber. The ride-hailing company most recently raised $600 million in April 2017.

Lyft is in competition with Uber among ride-hailing services in the USA, while Waymo is competing fiercely with Uber in the creation of technology for autonomous cars.

Son said: "We are interested in discussing with Uber, we are also interested in discussing with Lyft, and we have not decided which way yet".

Nothing is set in stone, however, and a deal may not materialize. It would allow the company to expand its technology and services. The company has been picked up $2.6 billion in funding to date and is valued at $7.5 billion, but that's small change compared to Uber's total $12.9 billion funding on a $68 billion valuation. Interestingly, one of those companies was Alphabet.